NIFTY Options Trading by RAJ

[adg123]

I've got Admn. Message right now as (13Nov2013 14:43:50) : Revised holiday notice for Mohorram for Currency exchanges only, markets will be open on Thu, 14th Nov and will be closed on Fri, 15th Nov. Stay upto date on Zerodha Market Intel: http://zerodha.com/marketintel/Circulars/

Somebody else ? Does it mean - market will open tomorrow...?

 

[dprikka]

Thank you very much Raj sir

 

[Maddy123789]

As tomorrow is a Holiday and since both the Bulls and Bears made 60 points today, market might go into consolidation from here. So it is better to take a Sell pairs now. The MAX COI also is in broad range of 5600-6100 / 5900-6100suggesting the Trend is over for today. Those who want to Trade the pair can Sell the Pair 5950PE-6150CE or 5900-6100 Pair for around 100 available now. With Holiday tomorrow and the market is still not decided, It might be trading between 6000-6100

Since morning was observing 6000pe has a max COI in put side n has now gone into -(minus) so i guess its a sign of nifty might hold 6000 n give some bounce ...

Correct me if m wrong..

 

[healthraj]

Guys,
Have a look at SBI daily chart.It seems Right head is getting formed for H&S pattern to take place.Its at very initial stage hence it can take any shape.But if this is true then SBI can go towards 1850 levels.Thoughts welcome.

SBIN Support as per OAT is 1600 which is still not Tested. And so I hope it is better to wait for 1600 to Buy for 1800. 1600 might be Tested on Friday. Right now seems to be spending more time near 1700 (MAX Pain). 1800 seems to be the new RESISTANCE after it came down from 1900. SBIN also has been contributing heavily to the BANKNIFTY movement. And BANKNIFTY support of 10000 also need to be Tested. So we should be see more downside for BANKNIFTY and SBIN on Friday.

 

[healthraj]

Since morning was observing 6000pe has a max COI in put side n has now gone into -(minus) so i guess its a sign of nifty might hold 6000 n give some bounce ...

Correct me if m wrong..

Yes I think for Today 6000 will hold.

 

[prabhsingh]

SBIN Support as per OAT is 1600 which is still not Tested. And so I hope it is better to wait for 1600 to Buy for 1800. 1600 might be Tested on Friday. Right now seems to be spending more time near 1700 (MAX Pain). 1800 seems to be the new RESISTANCE after it came down from 1900. SBIN also has been contributing heavily to the BANKNIFTY movement. And BANKNIFTY support of 10000 also need to be Tested. So we should be see more downside for BANKNIFTY and SBIN on Friday.

That might hold true but the only benefit of doubt which comes to my mind is that after continously closing in red bars for last couple of days,today it seems to be closing in green which might become turnaround for Friday or next coming trading days.

 

[healthraj]

Those Who want to Take risk and Trade the Trend can try

Selling BANKNIFTY at current Levels for Target of 10000
SELL SBIN for Target of 1600
SELL NIFTY for Target of 5950 or 5900 (If 6100 is the MAX Pain and since 6350/6300 was the TOP, the bottom needs to be 5850/5900)

 

[jassinko]

SBIN Support as per OAT is 1600 which is still not Tested. And so I hope it is better to wait for 1600 to Buy for 1800. 1600 might be Tested on Friday. Right now seems to be spending more time near 1700 (MAX Pain). 1800 seems to be the new RESISTANCE after it came down from 1900. SBIN also has been contributing heavily to the BANKNIFTY movement. And BANKNIFTY support of 10000 also need to be Tested. So we should be see more downside for BANKNIFTY and SBIN on Friday.

Raj bhai....just saw a circular stating Friday is a holiday but trading is ON tomorrow

 

[healthraj]

That might hold true but the only benefit of doubt which comes to my mind is that after continously closing in red bars for last couple of days,today it seems to be closing in green which might become turnaround for Friday or next coming trading days.

Yes there will be a Turnaround. As for as my opinion goes as a Positional trader the new positions are taken on Monday and closed on Friday. But since tomorrow is a holiday positions might be getting closed today also. Looking at BANKNIFTY I see more downside. As per OAT , NIFTY Seems to be bottomed out. But once again the MAX Pain gives the benefit of doubt that more downside in NIFTY is also pending and so the Range for NIFTY might shift by another 150 point to 5850, which would also give 500 points from 6350.

 

[healthraj]

Raj bhai....just saw a circular stating Friday is a holiday but trading is ON tomorrow

Pasting the circular from Zerodha site. So Stock markets are closed tomorrow and open for Friday.


RBI has a revised holiday notice, Holiday on Nov 14th for Moharram is revoked and is now on Nov 15th for currency exchanges. What this means is on Thursday, Nov 14th the stock markets will be closed and currency markets open and on Friday, Nov 15th stock markets will be open and currency closed.